Running a Cash-Based Chiropractic Practice

According to market research, the chiropractic market has a value of over $18 billion. Over 68,000 facilities currently offer chiropractic services in the U.S. As the number of professionals in this field increases, the demand for the existing market also rises.

Many practitioners are shifting to cash-based practices to offer better services and attract more patients. This change is also due to the challenges associated with running an insurance-based healthcare facility.

If you are considering running a cash-based chiropractic practice, it’s vital to have a comprehensive plan for attracting patients and offering affordable services. Failing to do this may make it hard to convince patients to subscribe to your care plans.

Here, we provide the ultimate guide on how to run and grow a cash-based practice. We also discuss the link between creating care plans and improving service delivery.

1. Create Flexible Care Plans for Cash Payers

As health statuses change, the kinds of chiropractic services needed will vary. Patients may need to explore other treatment methods to determine their effectiveness. If you don’t have a flexible care plan, it will be hard to adjust to different therapies.

When running a cash-based practice, consider adopting flexible care plans to improve the quality of chiropractic services. Understand the needs of each patient, and use this information to develop flexible health goals. These plans will also enable you to measure progress even if the patient shifts to a different therapy.

The main benefit of creating flexible care plans for cash payers is that it increases freedom. If a specific treatment has undesirable side effects or doesn’t deliver the expected results, your patients can switch to a different one.

Flexible care plans show that you care about the needs of your patients. This aspect can encourage more people to sign up for the chiropractic programs that you offer. Furthermore, allowing your patients to have a say in their treatment process can eventually grow your brand through referrals.

When developing care plans for your practice, it’s advisable to include offers that encourage more people to subscribe. For example, offer cash discounts for the first round of treatment. Alternatively, provide incentives such as bonus therapies or nutritional counseling. Such strategies will simplify adoption and help you attract patients who once preferred insurance-based care.

2. Offer Affordable Payment Plans

Seeking healthcare services from cash-based practices may be costly at first for some patients. If you overprice your care plans, it will be hard to encourage subscription. Attracting patients who previously used insurance to pay for such services can also be a daunting task.

The best way to promote your facility and enjoy the benefits of a cash-based practice is using affordable payment plans. Allow your patients to select the most suitable transaction method for them.

Options that you can offer include:

• Credit cards
• Checks
• Money orders
• Online payments
• Cash

Since handling many transactions can be time-consuming, it’s advisable to use payment solutions. Software like ChiroSpring PAY can streamline billing and boost transparency.

In the long run, adopting such a tool will help you maintain more patients. It will also support your care plans by easing the challenges of writing reports from SOAP notes and booking appointments.

3. Track Patients’ Health

Another tip for running a cash-based chiropractic practice is tracking your patient’s health. Taking this measure provides real-time insights into their progress. Furthermore, it enables you to measure the effectiveness of your treatment methods.

Observe how your patients respond to therapy by creating smart care plans. Consult other experienced chiropractors when debating between two or more treatments.

Involving your patients when monitoring their health is crucial. This measure enables you to identify side effects that are hard to detect using tests. It also makes it easier to select therapies that don’t cause much anxiety or discomfort.

One way to involve your patients when tracking their health is by sharing reports about their progress. By doing this, you allow them to assess their health status using preset goals. It also helps them realize the value of the money that they spend on chiropractic care.

4. Automate Payments

Processing bills when running a cash-based chiropractic practice can be time-consuming. If you aren’t careful, you can make mistakes and charge the wrong amount. The best way to avoid such issues and simplify work for your finance team is by automating payments.

A software solution like ChiroSpring PAY has an integrated tool that enables you to simplify billing. It can also accept ACH payments and deposit the money paid directly to your bank. With such software, you can speed up service delivery and save time for your staff and patients.

Automating payments will also lower the risk of errors when writing medical reports. This aspect enables your facility to stay compliant with medical regulations like HIPAA and avoid lawsuits.

Simplify Running a Cash-Based Chiropractic Practice with ChiroSpring

Creating smart and flexible care plans supports running a cash-based chiropractic practice. ChiroSpring offers the ultimate digital solution for chiropractic facilities.

This payment software provides you with all the management tools that you need to run your clinic. It also simplifies compliance, online appointment booking, and intake exams.

ChiroSpring is an all-in-one practice management and EHR system built specifically for chiropractors to help them regain face-time with patients, spend less time on back-office tasks, maintain a limited staff, and save operational costs.

To see how ChiroSpring can help you simplify how you manage your practice, reach out to one of our specialists today!